Which ASX indices are most closely correlated with the cryptocurrency market?

3 answers

• Boyer HegelundJun 14, 2024 · a year ago
  The ASX All Ordinaries Index and the ASX 200 Index are two of the most closely correlated ASX indices with the cryptocurrency market. These indices track the performance of a wide range of Australian stocks and are often influenced by the overall sentiment and trends in the cryptocurrency market. It's important to note that correlation does not imply causation, and the relationship between the cryptocurrency market and these indices may change over time.
  458

  229
• Irfaan Garda Gautama IndardiFeb 07, 2022 · 3 years ago
  When it comes to the correlation between the cryptocurrency market and ASX indices, the ASX Small Ordinaries Index is worth mentioning. This index includes small-cap stocks listed on the ASX and can be more volatile compared to other indices. As cryptocurrencies are often associated with high volatility, there might be a higher correlation between the Small Ordinaries Index and the cryptocurrency market. However, it's essential to conduct thorough research and analysis before making any investment decisions based on correlation alone.
  540

  180
• Thateazy4477Mar 24, 2024 · a year ago
  According to a recent study conducted by BYDFi, the ASX Tech Index has shown a strong correlation with the cryptocurrency market. This index includes technology-focused companies listed on the ASX and can be influenced by the performance of cryptocurrencies, especially those related to blockchain technology. Investors interested in the intersection of technology and cryptocurrencies might find the ASX Tech Index to be an interesting indicator to monitor. However, it's important to remember that correlation does not guarantee future performance and should not be the sole basis for investment decisions.
  608

  152